RCR 10.3% 2.6¢ rincon resources limited

Ann: Appointment of Administrators, page-6

  1. 1,415 Posts.
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    According to their previous, the company had already been advised of one pending class action. We invested prior to the cap raise, after running the numbers on clean books. RCR was supposed to be one of the more stable books, picked for stability and div. The performance has been unbelievable to put it nicely. We are disappointed and confused as to how professional cresit and money controllers internally could have got this so wrong, then taken a cap raise, only to go into adminiatration within months. It is clear on multiple levela, inclusing share pri e action and internal relationships prior to the project pri e overruns that internally issues werewidely known and information essential for fair and hinest valuation of RCR Thimlinson was intentionally withheld from external inveatoea. Some serious, hard questions need to be asked of the directors who held control during the periods of concern to establish if civil criminal embezzlement occurred post the raise, prior to the raise or even as we read this ann, or if poor management oversight should see directors banned from being able to hold office in the future.
 
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